Jaguar to build 3-series rival

"Even though the SUV market is growing, the saloon market is still twice the size, especially in the US," said Hallmark. "A crossover would make more noise for us than a saloon, but we already have SUVs in the company and we're not in a rush to add to that.

 

"You might not make as much profit on a saloon than an SUV, but you don't expect the likes of Audi stop making the A4."

 

Hallmark also pointed out the "successful strategy" the likes of BMW, Audi and Mercedes had made of expanding the appeal and profitability of their staple saloon line-ups with coupe, cabriolet and estate variants, as well as a wide range of powertrains. "You have got to be flexible in that segment," he added.